Hmm if my children and their kids were living in my house and I had the appreciation in my portfolio I have now, I think the 100k would be worth getting them out! I’m sure that’s the case in many situations where people lived at home waiting for a correction that hasn’t come yet.
CDS’s are used to offset risk of default, not speculating that assets remain elevated. CDO’s (Collateralized Debt Obligations) are largely what brought the 2 main HF’s down at Bear.
Assuming you’re referring to the subprime loan housing crisis, I would hardly compare the used car market to the housing market. The scope and scale of the housing market total credit dwarfs that of the used car market. I doubt when prices come back down there will even be hiccup in the macro economy.
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It’s a new paradigm, and everybody who doesn’t buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their property will continue its 130% yearly price increase.
Renters, and anybody born in a future generation, will not be able to afford a $15,000,000 starter home in 10 years. They will live in tent cities, and Hondas.
This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.
so has mine. trouble is so has everyone else’s so there’s no point in selling because you’re only making a lateral move and likely to end up having to overbid to outbid the investors.
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Going on Zillow and realtor here is saddening (especially when you look at sold listings). I’m just trying to figure out whose buying some of these overpriced s***holes.
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I sold all my real estate recently and I’m renting. Sure rent is high but it’s liberating not managing property. I also think I cashed out at a good time, I can’t see how much higher pricing can go without salaries to support it. Just depends on how bad inflation gets I guess…
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Lol cost of having children just went up lol
But IMO, it’s not teaching them financial responsibility…but that’s just me…
I was referring to the subprime auto loan market
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That’s still a good deal in my neighborhood. I present…
https://www.redfin.com/CA/Campbell/100-S-Milton-Ave-95008/home/1139825
Check the offer and closed prices
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For %.01 of that I could just put a tent up on the sidewalk and still fit in with the trendy kids.
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The bay area is just a different tier of absurdity…
At least it’s got a long driveway and good size plot of land.
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As a very young millennial, I am still trying to buy my first home and it is discouraging because everything in my comfortable price range is a ridiculous commute from work or needs $50k+ worth of remodeling to make it modern. Then I need to compete with flippers and people paying way over asking. I make good money, but my risk tolerance isn’t high enough to justify the current pricing, especially if the market flips. Plus I just found out my dog grooming bills are going up 11.5% next year, so how will I ever survive.
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I’m genz, unless my startup kicks off I’m kicking rocks.
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Till then it’s the pod and bugs for you. 
That is the biggest bummer …
But i keep saying & thank God everyday that I’m not looking for a house in this market
I just want to be the stereotypical millennial and get a big yard for my dogs. Screw kids and school systems, my dogs need a bigger yard.
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Yeah you guys have it bad for sure. I bought my first house at 24. Triplex for $250k, put $50k in and lived in a 1br apartment free and made $2000/mo profit after paying all bills. That was 2007, just sold it for $625k and it was grossing 7k a month in rent.
It’s all about timing. I got into real estate right after a crash and was able to buy with almost nothing out of pocket. Used equity from one property to buy the next and so on.
For anyone young I still suggest doing the same. Buy a multi family, 3.5% down fha loan. Live there a year as legally required, rinse and repeat. You won’t make money but you can still live for free doing this in a lot of markets. The largest expense is usually housing, wipe that out and you’re well ahead of most people. Better yet get a few roommates and live in a larger unit in your multi family while you’re young.
Real estate still makes more millionaires then anything else. No other investment will the bank finance for you like real estate.
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These flips with those numbers are suggesting a collapse in the bubble car market is coming sooner than later. And when it comes it will be spectacular!!!
How many months have you be talking about the sky falling for?
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A few months now…
Its ot easy to predict the exact moment and time, but let’s be real here, the entire market, not just used cars and new, but the entire market is at extremes and ripe for a significant drop. And it will happen.
“A few”?
“When will then be now?” “Soon”
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